TTEC Holdings, Inc. (TTEC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+1262.4%

$21.25

vs $1.56 price

Levered DCF

$17.80

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.81

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-0.9×	-0.74×	120.39×	20.15×	30.08×	28.71×	23.87×	36.63×
P/B	1.83×	0.95×	1.71×	3.71×	8.13×	7.65×	4.39×	3.73×
P/S	0.08×	0.11×	0.42×	0.85×	1.87×	1.75×	1.12×	0.87×
EV / EBITDA	-124.39×	-22.71×	9×	9.93×	15.73×	14.24×	11.18×	9.86×
Gross margin	21.8%	21.4%	21.5%	24.0%	25.0%	25.5%	24.4%	23.3%
Operating margin	4.5%	-7.9%	4.8%	6.9%	9.6%	10.5%	7.5%	6.1%
Net margin	-9.0%	-14.5%	0.3%	4.2%	6.2%	6.1%	4.7%	2.4%
Current ratio	1.89×	1.84×	1.69×	1.82×	1.57×	1.66×	1.51×	2.24×
Debt / equity	10.52×	4.31×	1.89×	1.9×	1.72×	1.18×	1.11×	0.8×
Interest coverage	1.34×	-2.06×	1.51×	4.67×	17.54×	11.7×	6.47×	3.21×
Dividend yield	0.0%	1.2%	4.8%	2.3%	1.0%	4.0%	1.6%	1.9%
Payout ratio	0.0%	-0.9%	584.1%	46.6%	29.9%	113.4%	37.2%	70.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-202.5%	-128.3%	1.4%	18.4%	27.0%	26.7%	18.4%	10.2%
Return on invested capital	8.2%	-12.1%	2.9%	7.7%	10.3%	13.4%	9.0%	7.9%
Return on assets	-12.8%	-18.3%	0.4%	4.8%	7.1%	7.8%	5.6%	3.4%
Free cash flow yield	47.0%	-43.8%	7.5%	2.6%	4.5%	6.2%	9.6%	9.5%
Earnings yield	-110.9%	-135.1%	0.8%	5.0%	3.3%	3.5%	4.2%	2.7%
Enterprise value	$1.1B	$1.2B	$2B	$3B	$5B	$3.8B	$2.2B	$1.5B
Net debt / EBITDA	-104.6×	-18.33×	4.35×	3.03×	2.34×	1.48×	1.92×	1.32×
Cash conversion cycle (days)	64	61	43	51	50	62	63	66